Zephyr Announces Increase in Private Placement

Core Viewpoint - Zephyr Minerals Ltd. has announced an increase in its non-brokered private placement to 5,200,000 units at a price of $0.05 per unit, aiming for gross proceeds of up to $260,000, which will be used for working capital and advancing the Dawson Gold project [1][2]. Group 1: Private Placement Details - The private placement consists of units, each comprising one common share and one common share purchase warrant, with warrants allowing the purchase of additional shares at $0.10 for two years [1]. - The expected closing date for the private placement is around February 3, 2026, subject to customary closing conditions and TSX Venture Exchange approval [3]. Group 2: Dawson Gold Project - The Dawson Gold Deposit has an inferred mineral resource of 343,000 tonnes grading 12.11 g/t for 133,500 ounces of gold, with potential for resource expansion at depth and along strike [5]. - A Preliminary Economic Assessment (PEA) from March 21, 2017, indicated robust economics with an all-in sustaining cost of $692 per ounce, utilizing a gold price of $1,250/oz [5]. - The project benefits from a small footprint for the proposed underground mine, ownership of necessary lands, a favorable climate for year-round operations, and nearby infrastructure [5]. Group 3: Company Overview - Zephyr Minerals is focused on obtaining a mining permit for its 100% owned Dawson Gold property in Colorado and is awaiting the Zimbabwean Government's decision on two Exclusive Prospecting Orders covering 124,000 hectares [6].